DDD · 3D Systems Corporation

3D Systems’ Q1 2026 results reflect a meaningful inflection point: revenue growth re-emerged on a core basis (+11% ex-divestitures), Healthcare Solutions surged ~21% YoY to $50.1 million—now matching Industrial Solutions in scale—and Adjusted EBITDA turned positive at $2.1 million, reversing a $23.9 million loss in Q1 2025. This improvement was driven by strong double-digit growth in Dental and Med Tech (each >20% YoY), early traction from new products like monolithic denture printing systems and high-performance metal components for Aerospace & Defense, and sustained execution of cost reduction initiatives that lowered operating expenses by $28.5 million YoY. Gross profit margin expanded 130 bps GAAP and 110 bps Non-GAAP, aided by favorable revenue mix and the impact of divestitures that removed lower-margin software businesses. Management explicitly attributed the performance to accelerating customer adoption of additive manufacturing across high-value applications and emphasized disciplined cost management toward full-year break-even Adjusted EBITDA. The Q2 outlook reflects continued top-line momentum tempered by near-term investment and seasonality, projecting $93–$95 million revenue and Adjusted EBITDA of ($4)–($2) million. Liquidity remains stable with $85.1 million in cash and cash equivalents and minimal near-term debt maturities ($3.9 million due in Q4 2026), supporting strategic flexibility amid ongoing global uncertainty.